A Verizon executive has confirmed the US mobile network will end its unlimited mobile data plans this summer.
Chief Financial Officer Fran Shammo says they will be replaced by usage-based prices "around the middle of summer".
She also predicted that Verizon could take a hit when the new iPhone 5 is released later this year, because its customers will be tied into recently-signed two-year contracts for the iPhone 4. She didn't give a timing for the new iPhone, but traditionally Apple releases updates in mid-summer, which would coincide with Verizon's data plan changes.
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